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WB: South Asia must explore untapped opportunities
In South Asia, only 20 out of every hundred women actively participate in the labor market, while the labor force participation for men is 80 percent, far below the participation rates in other regions, says a World Bank Report.
The report titled ‘Unlocking growth across South Asia’ said: In the decade before the COVID-19 pandemic hit, South Asia struck a strong growth note of 5 percent per year in per-capita GDP, strongly outpacing other developing regions in the world, notably Latin America and the Caribbean; the Middle East and North Africa; and Sub-Saharan Africa—all of which grew less than 1 percentage point per year. Only East-Asian economies outperformed South Asia at a growth rate of 6.5 percent.
Undoubtedly, South Asia as a region, possesses a powerful growth engine.
Yet, what is striking is that this engine has not been firing on all cylinders, implying that large numbers of people and significant parts of the economy are not participating in the strong growth. In South Asia, only 20 out of every hundred women actively participate in the labor market, while the labor force participation for men is 80 percent, far below the participation rates in other regions.
Between 80-90 percent of the workforce is stuck in unproductive informal sectors that have notoriously limited access to credit and sales markets. The region’s exports of goods—traditionally a source of productivity growth—are only one third of the size of exports when compared to other countries around the world.
From the findings above, it appears that most of South Asia’s economic activity is concentrated in small pockets of societies, namely the formal workforce and male workers mostly employed by formal firms that have access to credit and are largely selling to domestic markets. These segments can grow fast, but this is not the full throttle mode that is required to launch economies to their fullest potential. Therefore, it’s not a surprise that currently, per-capita income in South Asia is only one fifth of the per-capita income in East Asia, a region with a much larger female labor force participation, smaller informal sectors, and an export-led growth strategy.
For South Asia to reach its full economic potential, it must explore untapped opportunities.
The latest South Asia Economic Focus zeroes in on a possible answer to this conundrum. Using new data from 140 countries, the chapter on gender norms shows that in South Asia, perceptions about the role of women in society have not kept up with new economic opportunities as they have done in many regions of the world. The analysis shows that these gender norms determine to a large extent, the participation of women in the labor force.
The paradox here is that in most countries, education of girls tends to increase female labor force participation as education increases potential wages, which makes it more attractive to participate in paid work. However, in South Asia, whereas education of girls has improved significantly during these past decades, the participation of women in the workforce has not kept up to speed. If norms mandate that married women stay at home, then women are likely to withdraw from the labor market after marriage, irrespective of their education level. The latest South Asia Economic Focus also shows that conservative norms in South Asia are associated with other forms of gender inequality as reflected in freedom of movement, asset ownership, access to finance, preference for the male child, and domestic violence.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
